Loan counselors provide guidance to prospective loan applicants who have problems qualifying for traditional loans. The guidance may include determining the best type of loan and explaining loan requirements or restrictions to the applicants. Loan counselors check loan agreements to ensure that they are complete and accurate, interview applicants and request specified information for applications, establish payment priorities, and even approve loans within specified limits.TCC programs that are right for you:
Business Management and Accounting
Loan counselors generally work for banks and other financial institutions. Most loan counselors work a standard 40-hour week, but many work longer, depending on the number of clients and the demand for loans. Loan counselors are especially busy when interest rates are low, causing a surge in loan applications.
According to the Bureau of Labor Statistics, employment of general and operations managers is expected to grow between 20 and 28 percent between 2010 and 2020, much faster than the average for all occupations.
For information on wages, visit O*NET
Career information courtesy of O*NET.